 Fifteen of them endorsed Biden's Build Back Better agenda, which contained spending proposals for climate initiatives, health care subsidies, schools, housing, and other causes. It eventually passed Congress with a $1.9 trillion price tag. Several pieces of it were pared back when eventually incorporated into the so-called Inflation Reduction Act with another cost of $800 billion. The prize-winning economist had this to say about that. Because this agenda invests in long-term economic capacity, will enhance the ability of more Americans to participate productively in the economy. It will ease long-term inflationary pressures.